The following information pertains to Ayayai Company. Assume that all


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The following information pertains to Ayayai Company. Assume that all balance sheet amounts represent average balance figures. Total assets $350000 Stockholders' equity-common 230000 Total stockholders' equity 284000 Sales revenue 102000 Net income 21000

Sale price $15.00 Regular price $30.00

The following information pertains to Ayayai Company. Assume that
all balance sheet amounts represent average balance figures.
Total assets
$350000
Stockholders' equity-common
230000
Total stockholders' equity
284000
Sales revenue
102000
Net income
21000
Number of shares of common stock
8000
Common dividends
5100
Preferred dividends
7600

What is Ayayai's payout ratio?

18%.

9%.

38%.

24.29%.

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